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How’s it going everybody this is beat the bush today i’m gonna talk about how i flew for free using a service called plastic now this video is sponsored insofar as if you click my referral link i will get compensated for and if you sign up for plastic you can just as well refer other people as well now before discovered this service about a year ago i generally had
A really hard time meeting high spending requirements on credit cards with this new company called plastic you can essentially go and pay very expensive items through your credit card with a small fee for example you can pay rent mortgage car payments if you want to pay a contractor or even pay your taxes basically anything that required a check before and even
If they do not accept credit cards you can use the service to pay them anyway now what’s the catcher is because this service have a 2.5 percent fee they need to charge you something in order to operate a company but in light of credit card signup bonuses you’re essentially gonna get way more money back than the fee that you pay for example when i first used this
Plastic service i paid $50 in order to pay two thousand dollars into my mortgage after using this two thousand dollars through an american express gold card i got 50 thousand bonus points which is valued at $500 the fee they charge me for using the service was $50 and so i made it about $450 in gift cards for paying $50 in service fees so this service only really
Makes sense if you can’t earn credit cards where you can get essentially more than 2.5 percent fee and then net yourself something positive with this services essentially opened my doors up to a lot of different things because i’m gonna pay my mortgage anyway well i do and what you can do as well is funnel all this mortgage payment and rent payments through brand-new
Credit cards and then you can go and collect all the bonus rewards all the signup bonuses throughout the year the last 10 months i’ve applied for 10 credit cards and i’m still reaping the rewards for example i already went to florida for free i flew from san francisco to hong kong basically for free i still have to pay the taxes which was about $70 or so using the
American express skymiles card and then i had a side trip there from hong kong to tokyo and then back that side trip going from hong kong to tokyo was completely paid for by my american express gold car including the taxes and i still have the bank of america merrill plus card the barclay arrival card the city a advantage car all of them which i turned already and
There’s 50,000 points sitting in each one of them and i’m still waiting to use this and i plan to go to vancouver and also new york using these points now whenever i talk about this plastic servers people ask me hey can you pay rent with this is this even possible but the first thing i think about whenever someone asks this is that are they in financial trouble do
They have enough money to pay the rent are they trying to lean on their credit card to pay rent now this is extremely dangerous and i wish no one would ever try to do this of course maybe people is not gonna listen to me anyway but what i see happening is some of these people maybe they’re in financial trouble or something and they cannot make ends meet and then
They have to go oh you know maybe i can use my credit card to pay rent for now and then i can kind of lean on plastic and pay that two-and-a-half percent fee and then maybe you know two weeks later i’ll get my paycheck and then you’ll pay more into your credit card and essentially kind of making ends meet this is the absolute wrong way to do it and if i hear you
Do this i’m gonna be very mad if you’re thinking of doing this you’re going against everything i try to teach on this channel about financial independence about increasing your cash flow if you try to borrow with this plastic service and try to make ends meet you’re essentially using more money because you’re essentially paying this fee and you’re not going to
Get it back you’re not churning it like i am where i’m getting five hundred dollars back for doing this because i have the money to pay off my credit card i’m just using this service in order to turn the credit card i’m gonna go right back into my credit card and pay it off right away within that month if you somehow lien on the credit card and let’s say you pay
$2,000 for rent in your credit card and then you don’t actually have the money and your checking account to pay this off you might end up not being able to pay at the end of the month and then your credit card is gonna go and charge you 15 percent 20 percent apr for every $1,000 that you try to lean on the credit card with a 20% apr you’re essentially gonna pay the
Credit card 20 dollars of interest on going from now on moving forward now i talked about reducing your monthly expenses not increasing it when you do this you’re leaning on a credit card don’t ever try to do this if you’re having a hard time meeting rent or mortgage check out my cash flow video over here where you try to reduce your expenses and try to increase
Your income instead this is a much much more sustainable way in order to pay your fences rather than try to fall into debt and then you’re gonna end up having a debt snowball because you’re gonna pile up your debt bigger and bigger and it’s gonna roll up bigger and bigger eventually you’re not gonna be able to even pay all the interest every single month now for
Any kind of service including credit cards you can either use it for good or use it for bad if you’re gonna use it for turning credit cards i highly recommend using this and i’ll leave a referral link down in the video description below where if you pay more than five hundred dollars using this service you’re gonna end up getting five hundred dollars of fee fee
Transfer so the next $500 that you use you’re gonna not have to pay a fee on it if you don’t have money in your checking account and you’re thinking of using this don’t use my referral link i know people are trying to help my on my channel and stuff but i recommend don’t even do it there are other ways to do it leave a comment down below let me know your situation
Maybe i can help you out now if you’re interested in supporting my channel check out the plastic referral link or you can check out my audible link down in the video description below where you can get a free audio book and you don’t like this audio book artist service you can still cancel it before the subscription expires and you can still keep this audio book
For free i also have a patreon over here where you can get exclusive access to some of my finance videos and as always don’t forget to subscribe to my channel over here and click that bell icon so that you can get a new notification whenever i upload a brand new video thanks for watching
Transcribed from video
How I Fly for Free with Plastiq By BeatTheBush
